Anthropic is likely to tell IPO investors that its potential revenue opportunity runs above $30tn.
That figure would top the $28.5tn SpaceX put in front of investors before its own record listing. Corrie Driebusch reported the number for The Wall Street Journal, citing people familiar with the matter.
Companies going public estimate a total addressable market to show investors how much room they still have to grow. The figure describes the annual revenue a company could theoretically capture at 100% market share. Bankers build it from industry data and their own models.
What $30tn looks like next to a real number
The 191 technology companies in the S&P 1500 booked $2.4tn in revenue last year, according to FactSet data cited by the Journal.
